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Housing prices gain in more cities
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HOME prices rose in more Chinese cities in March, according to the National Bureau of Statistics.
Prices of new homes, excluding government-subsidized affordable housing, climbed in 62 Chinese cities last month, up 15 from February, and fell in the remaining eight, the bureau, which tracks prices in 70 cities, said yesterday on its website.
Xiamen in Fujian Province led the gainers in March with a month-on-month rise of 5.4 percent. It was followed by Hefei in Anhui Province where prices gained 4.6 percent, Shanghai where they hiked 4.3 percent month on month, and Shenzhen where they rose 3.7 percent.
“The number of cities recording monthly price gains increased notably last month while the momentum also accelerated with first-tier cities and major second-tier ones continuing to lead the gainers,” said Liu Jianwei, a senior bureau statistician. “In contrast, the majority of second and third-tier ones registered rather stable performances.”
On average, the growth in new home prices in the 70 cities quickened 0.6 percentage points last month from February while in the pre-owned home market, an overall acceleration of 1.2 percentage points was recorded, according to the bureau data.
Year on year, new home prices climbed in 40 cities in March, compared with 32 in February.
In the pre-owned housing market, prices rose in 46 cities in March from a year earlier, up five from February.
“First-tier cities recorded their fastest pace of price growth in more than five years while the average growth for the 70 cities is nearing the heights seen in early 2013,” said James Macdonald, head of China research at Savills, a leading international real estate services provider.
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